The Bank of England has upgraded its growth forecasts for next year, saying the economy “has started to head back towards normal”.
Its latest inflation report predicts growth of 2.9% next year, up from its 2.7% forecast three months ago.
However, it has left its forecast for this year unchanged at 3.4%.
Governor Mark Carney said the economy had “edged closer” to the point when interest rates would need to rise, but indicated this remained some way off.
He reiterated that any increases would be “gradual” and that the rate “may stay at historically low levels for some time”.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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